JOURNAL ARTICLE

Stablecoin Push Unleashes Flood of Crypto Lobbying Cash in US Congress.

  • Published In: Bloomberg.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Versprille, Allyson; Allison, Bill 3 of 3

Abstract

Lobbying efforts surrounding stablecoins in the US Congress have increased significantly in 2023, as the industry seeks to influence legislative outcomes. Stablecoins are tokens that are meant to be backed by safe and liquid assets, serving as a bridge between cryptocurrencies and traditional finance. Both Democrats and Republicans have shown interest in regulating stablecoins, with lobbying spending from companies like Tether and Circle increasing. The House Financial Services Committee is a key battleground for stablecoin regulation, and overall lobbying spending by the crypto industry is on track to set a record in 2023. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2023/12, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2023
  • Accession Number:174343560
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